The Shalamuka Foundation (“Shalamuka”) is a trust formed in 2006 to raise long-term, sustainable funding for the highly regarded Penreach Whole School Development Program (“Penreach”).
Penreach began working with 40 educators from 10 schools in 1994. It has grown exponentially and now reaches more than 2 000 educators a year, representing over 900 schools; an estimated 350 000 learners from mainly rural areas benefit from Penreach annually. 100% of the beneficiaries of Penreach are black; at least 94% are women, and over 50% are from rural areas.
The Mission Statement of Penreach is “To improve the quality and accessibility of education in disadvantaged communities”. Its vision is “To passionately empower the Nation through knowledge, guided by values”. Penreach is striving to create functional, efficient schools where future generations of young people can acquire the skills they will need to take South Africa to new heights as a nation.
Shalamuka participates in BEE deals and investment opportunities to create a long-term investment that will provide sufficient funds to sustain Penreach on an annual basis and allow for planning, growth and important research. This will increase the number of educators, and consequently learners who can be reached, thereby improving their standard of education. Shalamuka has successfully participated in a number of BEE transactions to date. These include Barloworld Limited; Brimstone Investment Corporation Limited; Emira Property Fund; Hulamin (Pty) Limited; PPC Limited; Sasol Inzalo Transaction; and Shalamuka Capital/RMB Corvest. Shalamuka has access to funding at favourable rates.
The Shalamuka trustees are respected members of the business community and have impressive socio-economic development track records. 85% of the trustees are black South Africans and 71% are black women. The Shalamuka trustees are volunteers and do not benefit economically in any way from Shalamuka or Penreach. The current trustees are: Ms Yvonne Chaka Chaka; Ms Phutumile Dumisa; Advocate Leah Gcabashe; Mr Paul Harris; Ms Elizabeth Maepa; Judge Phineas Mojapelo; and Ms Ethel Nyembe.
It is the profound belief of the Shalamuka trustees that South Africa will benefit from widespread, improved education.
Shalamuka has Empowerdex certification, scoring maximum points on the ownership scorecard. It is 100% complaint as a broad-based organisation as per the 2007 DTI codes and significantly enhances the CSI/BEE scorecard of investee companies.
Shalamuka Capital is the private equity company for the Shalamuka Foundation. It offers investment partners a key advantage through its status as a broad based BEE private equity company, and it uses its own funds for investment rather than third party funds.